The Welding Consumables Market size was estimated at USD 12.62 billion in 2022 and is expected to reach USD 17.80 billion by 2030 at a CAGR of 4.4% during the forecast period of 2023-2030.
Flux and filler metals are welding consumables that are utilized in the welding process. To create a solid connection between two metals, filler metals are melted, and flux is used to stop heated metals from oxidizing. These consumables are made from a variety of fundamental minerals, including copper, nickel, rutile, ilmenite, and aluminum. These consumables aid in cost-effective welding, shield the molten weld from airborne contaminants, and stop the formation of weld pool porosity. They are therefore widespread in the building, automobile, energy, shipbuilding, and aerospace industries.
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The market is expanding because of an increase in the inclination to combine two distinct metals, the need for customized and unique metal designs/shapes, greater fabrication, and usage in other intensive industries including manufacturing, automotive, and oil & gas. Additionally, the use of robotic welding solutions and the introduction of various welding technologies, such as resistance spot and plasma welding, are the main factors driving market development.
MARKET DYNAMICS
DRIVERS
The construction of pipelines, storage tanks, and power plants increases the need for welding consumables, which is a result of growth in the energy industry, including oil and gas exploration, power generation, and renewable energy projects.
Opportunities for providers of welding consumables arise from the automobile industry's requirement for lightweight materials and cutting-edge welding methods to achieve fuel economy and safety criteria.
RESTRAIN
Increasing environmental regulations and the shift towards greener technologies may affect certain welding processes, such as those using high-emission welding gases.
Fluctuations in the prices of raw materials, particularly metals like steel, can impact production costs and pricing strategies of welding consumables.
Intense competition among welding consumable manufacturers can exert pressure on profit margins, especially in mature markets.
OPPORTUNITY
Green Welding can capitalize on the rising demand for sustainable practices by creating and selling ecologically friendly welding consumables.
Offering specialized solutions to address the distinct welding requirements of diverse sectors might be a valuable business opportunity.
CHALLENGES
Market Consolidation Mergers and acquisitions can alter market dynamics and pose risks for smaller competitors in the welding consumables sector.
Tariffs and trade restrictions may have an impact on the way welding consumables are distributed internationally and may cause supply chains to break down.
In some applications, the development of robotic and automated welding systems may result in a decrease in the need for hand welding supplies.
IMPACT OF RUSSIA-UKRAINE WAR
Concerns about the stability of the economy and disruptions to international supply chains have been expressed, as a result of the political tensions and military war between Russia and Ukraine. Dieses are probably going to affect the way welding equipment is made and distributed, which might result in market price volatility and a possible supply shortfall. The market for welding machines is expected to rise, although there may be a short-term pause because of political stability, economic recovery, and the return of regular company activities. Despite potential market difficulties, this time might see the emergence of some significant winners. Manufacturers with robust supply chains, novel product offers, and the capacity to quickly adjust to shifting market conditions may be among them.
IMPACT OF ONGOING RECESSION
Consolidation of industries Smaller or financially weaker manufacturers of welding consumables may find it difficult to survive during hard economic times. As a result of larger, more financially secure companies acquiring or merging with smaller rivals, this may cause industry consolidation. Export Possibilities If the recession has a significant influence on the home market, producers of welding consumables may look for Export prospects in nations with more stable or expanding economies. International market expansion can assist in counteract a drop in local revenue. Working Force In the welding business, changes in the labor force composition or workforce cutbacks may occur during a recession. Competitivity among skilled welders for open positions may increase, which might affect labor prices and the demand for training programs.
By Product
Stick Electrodes
Solid Wires
By Flux-cored Wires
SAW Wires & Fluxes
Others
By Application
Automobile & Transportation
Building & Construction
Marine
Power
Oil & Gas
Wear Plates
Others
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REGIONAL COVERAGE
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
The rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
REGIONAL ANALYSES
Throughout the forecast, North America is anticipated to have the largest market share globally. Due to the enterprises in this region's position as technical innovators and their significant R&D investments, the market in North America is seeing growth. Additionally, the majority of global market participants with potential market shares have built production facilities across the North American continent, making it one of the major manufacturing centers for the goods supporting market expansion.
Due to its completely developed markets for consumables suppliers, Europe is projected to see consistent market growth throughout the forecast period. The European Union is adopting tough measures to reduce the region's rising pollution levels, which is leading to the production of environmentally friendly goods. Dieses is encouraging businesses, that manufacture consumables, to create effective goods, that will assist in lowering pollution levels in the future and increase their market share globally.
The major key players are Lincoln Electric, KOBE STEEL, LTD, ESAB, CS HOLDINGS CO., LTD, Hyundai Welding Co., Ltd, Panasonic Corporation, Fronius International GmbH, RME MIDDLE EAST, voestalpine BOHLER Edelstahl GmbH, Copilot, Tianjin Golden Bridge Welding Materials Group International Trading Co., Ltd and Others Players
Lincoln Electric-Company Financial Analysis
RECENT DEVELOPMENT
Copilot: In February 2023, The Copilot collaborative welding system was recently presented by Miller Electric Mfg. LLC is one of the leading producers of welding supplies and equipment. With the help of this system, welders will be able to improve the quality of their welding and maximize the usage of consumables, allowing users to meet increased demand.
Hyperfill: In May 2022, By including Hyperfill solutions in its Flux-Cored wire applications, welding equipment and consumables, developer, manufacturer, and supplier, Lincoln Electric has broadened the variety of its current product line.
| Report Attributes | Details |
| Market Size in 2022 | US$ 12.62 Bn |
| Market Size by 2030 | US$ 17.80 Bn |
| CAGR | CAGR of 4.4% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product(Stick Electrodes, Solid Wires) • By Flux-cored Wires(SAW Wires & Fluxes, Others) • By Application (Automobile & Transportation, Building & Construction, Marine, Power, Oil & Gas, Wear Plates, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Lincoln Electric, KOBE STEEL, LTD , ESAB, CS HOLDINGS CO., LTD, Hyundai Welding Co., Ltd, Panasonic Corporation, Fronius International GmbH, RME MIDDLE EAST, voestalpine BOHLER Edelstahl GmbH, Copilot, Tianjin Golden Bridge Welding Materials Group International Trading Co., Ltd |
| Key Drivers | • The construction of pipelines, storage tanks, and power plants increases the need for welding consumables, which is a result of growth in the energy industry, including oil and gas exploration, power generation, and renewable energy projects. • Opportunities for providers of welding consumables arise from the automobile industry's requirement for lightweight materials and cutting-edge welding methods to achieve fuel economy and safety criteria. |
| Market Opportunity | • Green Welding can capitalize on the rising demand for sustainable practices by creating and selling ecologically friendly welding consumables. • Offering specialized solutions to address the distinct welding requirements of diverse sectors might be a valuable business opportunity. |
The Welding Consumables Market is expected to grow at 4.4% CAGR from 2023 to 2030.
According to our analysis, the Welding Consumables Market is anticipated to reach USD17.68 billion By 2030.
Raw material supply volatility will hurt the market.
The leading participants the Lincoln Electric, KOBE STEEL, LTD, ESAB, CS HOLDINGS CO., LTD, Hyundai Welding Co., Ltd, Panasonic Corporation, and Fronius International GmbH.
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Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Ukraine- Russia War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Welding Consumables Market, By Product
8.1 Stick Electrodes
8.2 Solid Wires
9. Welding Consumables Market, By Flux-cored Wires
9.1 SAW Wires & Fluxes
9.2 Others
10. Welding Consumables Market, By Application
10.1 Automobile & Transportation
10.2 Building & Construction
10.3 Marine
10.4 Power
10.5 Oil & Gas
10.6 Wear Plates
10.7 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Welding Consumables Market by Country
11.2.2North America Welding Consumables Market by Product
11.2.3 North America Welding Consumables Market by Flux-cored Wires
11.2.4 North America Welding Consumables Market by Application
11.2.5 USA
11.2.5.1 USA Welding Consumables Market by Product
11.2.5.2 USA Welding Consumables Market by Flux-cored Wires
11.2.5.3 USA Welding Consumables Market by Application
11.2.6 Canada
11.2.6.1 Canada Welding Consumables Market by Product
11.2.6.2 Canada Welding Consumables Market by Flux-cored Wires
11.2.6.3 Canada Welding Consumables Market by Application
11.2.7 Mexico
11.2.7.1 Mexico Welding Consumables Market by Product
11.2.7.2 Mexico Welding Consumables Market by Flux-cored Wires
11.2.7.3 Mexico Welding Consumables Market by Application
11.3 Europe
11.3.1 Eastern Europe
11.3.1.1 Eastern Europe Welding Consumables Market by Country
11.3.1.2 Eastern Europe Welding Consumables Market by Product
11.3.1.3 Eastern Europe Welding Consumables Market by Flux-cored Wires
11.3.1.4 Eastern Europe Welding Consumables Market by Application
11.3.1.5 Poland
11.3.1.5.1 Poland Welding Consumables Market by Product
11.3.1.5.2 Poland Welding Consumables Market by Flux-cored Wires
11.3.1.5.3 Poland Welding Consumables Market by Application
11.3.1.6 Romania
11.3.1.6.1 Romania Welding Consumables Market by Product
11.3.1.6.2 Romania Welding Consumables Market by Flux-cored Wires
11.3.1.6.4 Romania Welding Consumables Market by Application
11.3.1.7 Turkey
11.3.1.7.1 Turkey Welding Consumables Market by Product
11.3.1.7.2 Turkey Welding Consumables Market by Flux-cored Wires
11.3.1.7.3 Turkey Welding Consumables Market by Application
11.3.1.8 Rest of Eastern Europe
11.3.1.8.1 Rest of Eastern Europe Welding Consumables Market by Product
11.3.1.8.2 Rest of Eastern Europe Welding Consumables Market by Flux-cored Wires
11.3.1.8.3 Rest of Eastern Europe Welding Consumables Market by Application
11.3.2 Western Europe
11.3.2.1 Western Europe Welding Consumables Market by Product
11.3.2.2 Western Europe Welding Consumables Market by Flux-cored Wires
11.3.2.3 Western Europe Welding Consumables Market by Application
11.3.2.4 Germany
11.3.2.4.1 Germany Welding Consumables Market by Product
11.3.2.4.2 Germany Welding Consumables Market by Flux-cored Wires
11.3.2.4.3 Germany Welding Consumables Market by Application
11.3.2.5 France
11.3.2.5.1 France Welding Consumables Market by Product
11.3.2.5.2 France Welding Consumables Market by Flux-cored Wires
11.3.2.5.3 France Welding Consumables Market by Application
11.3.2.6 UK
11.3.2.6.1 UK Welding Consumables Market by Product
11.3.2.6.2 UK Welding Consumables Market by Flux-cored Wires
11.3.2.6.3 UK Welding Consumables Market by Application
11.3.2.7 Italy
11.3.2.7.1 Italy Welding Consumables Market by Product
11.3.2.7.2 Italy Welding Consumables Market by Flux-cored Wires
11.3.2.7.3 Italy Welding Consumables Market by Application
11.3.2.8 Spain
11.3.2.8.1 Spain Welding Consumables Market by Product
11.3.2.8.2 Spain Welding Consumables Market by Flux-cored Wires
11.3.2.8.3 Spain Welding Consumables Market by Application
11.3.2.9 Netherlands
11.3.2.9.1 Netherlands Welding Consumables Market by Product
11.3.2.9.2 Netherlands Welding Consumables Market by Flux-cored Wires
11.3.2.9.3 Netherlands Welding Consumables Market by Application
11.3.2.10 Switzerland
11.3.2.10.1 Switzerland Welding Consumables Market by Product
11.3.2.10.2 Switzerland Welding Consumables Market by Flux-cored Wires
11.3.2.10.3 Switzerland Welding Consumables Market by Application
11.3.2.11.1 Austria
11.3.2.11.2 Austria Welding Consumables Market by Product
11.3.2.11.3 Austria Welding Consumables Market by Flux-cored Wires
11.3.2.11.4 Austria Welding Consumables Market by Application
11.3.2.12 Rest of Western Europe
11.3.2.12.1 Rest of Western Europe Welding Consumables Market by Product
11.3.2.12.2 Rest of Western Europe Welding Consumables Market by Flux-cored Wires
11.3.2.12.3 Rest of Western Europe Welding Consumables Market by Application
11.4 Asia-Pacific
11.4.1 Asia-Pacific Welding Consumables Market by Country
11.4.2 Asia-Pacific Welding Consumables Market by Product
11.4.3 Asia-Pacific Welding Consumables Market by Flux-cored Wires
11.4.4 Asia-Pacific Welding Consumables Market by Application
11.4.5 China
11.4.5.1 China Welding Consumables Market by Product
11.4.5.2 China Welding Consumables Market by Flux-cored Wires
11.4.5.3 China Welding Consumables Market Application
11.4.6 India
11.4.6.1 India Welding Consumables Market by Product
11.4.6.2 India Welding Consumables Market by Flux-cored Wires
11.4.6.3 India Welding Consumables Market by Application
11.4.7 Japan
11.4.7.1 Japan Welding Consumables Market by Product
11.4.7.2 Japan Welding Consumables Market by Flux-cored Wires
11.4.7.3 Japan Welding Consumables Market by Application
11.4.8 South Korea
11.4.8.1 South Korea Welding Consumables Market by Product
11.4.8.2 South Korea Welding Consumables Market by Flux-cored Wires
11.4.8.3 South Korea Welding Consumables Market by Application
11.4.9 Vietnam
11.4.9.1 Vietnam Welding Consumables Market by Product
11.4.9.2 Vietnam Welding Consumables Market by Flux-cored Wires
11.4.9.3 Vietnam Welding Consumables Market by Application
11.4.10 Singapore
11.4.10.1 Singapore Welding Consumables Market by Product
11.4.10.2 Singapore Welding Consumables Market by Flux-cored Wires
11.4.10.3 Singapore Welding Consumables Market by Application
11.4.11 Australia
11.4.11.1 Australia Welding Consumables Market by Product
11.4.11.2 Australia Welding Consumables Market by Flux-cored Wires
11.4.11.3 Australia Welding Consumables Market by Application
11.4.12 Rest of Asia-Pacific
11.4.12.1 Rest of Asia-Pacific Welding Consumables Market by Product
11.4.12.2 Rest of Asia-Pacific Welding Consumables Market by Flux-cored Wires
11.4.12.3 Rest of Asia-Pacific Welding Consumables Market by Application
11.5 Middle East & Africa
11.5.1 Middle East
11.5.1.1 Middle East Welding Consumables Market by Country
11.5.1.2 Middle East Welding Consumables Market by Product
11.5.1.3 Middle East Welding Consumables Market by Flux-cored Wires
11.5.1.4 Middle East Welding Consumables Market by Application
11.5.1.5 UAE
11.5.1.5.1 UAE Welding Consumables Market by Product
11.5.1.5.2 UAE Welding Consumables Market by Flux-cored Wires
11.5.1.5.3 UAE Welding Consumables Market by Application
11.5.1.6 Egypt
11.5.1.6.1 Egypt Welding Consumables Market by Product
11.5.1.6.2 Egypt Welding Consumables Market by Flux-cored Wires
11.5.1.6.3 Egypt Welding Consumables Market by Application
11.5.1.7 Saudi Arabia
11.5.1.7.1 Saudi Arabia Welding Consumables Market by Product
11.5.1.7.2 Saudi Arabia Welding Consumables Market by Flux-cored Wires
11.5.1.7.3 Saudi Arabia Welding Consumables Market by Application
11.5.1.8 Qatar
11.5.1.8.1 Qatar Welding Consumables Market by Product
11.5.1.8.2 Qatar Welding Consumables Market by Flux-cored Wires
11.5.1.8.3 Qatar Welding Consumables Market by Application
11.5.1.9 Rest of Middle East
11.5.1.9.1 Rest of Middle East Welding Consumables Market by Product
11.5.1.9.2 Rest of Middle East Welding Consumables Market by Flux-cored Wires
11.5.1.9.3 Rest of Middle East Welding Consumables Market by Application
11.5.2 Africa
11.5.2.1 Africa Welding Consumables Market by Country
11.5.2.2 Africa Welding Consumables Market by Product
11.5.2.3 Africa Welding Consumables Market by Flux-cored Wires
11.5.2.4 Africa Welding Consumables Market by Application
11.5.2.5 Nigeria
11.5.2.5.1 Nigeria Welding Consumables Market by Product
11.5.2.5.2 Nigeria Welding Consumables Market by Flux-cored Wires
11.5.2.5.3 Nigeria Welding Consumables Market by Application
11.5.2.6 South Africa
11.5.2.6.1 South Africa Welding Consumables Market by Product
11.5.2.6.2 South Africa Welding Consumables Market by Flux-cored Wires
11.5.2.6.3 South Africa Welding Consumables Market by Application
11.5.2.7 Rest of Africa
11.5.2.7.1 Rest of Africa Welding Consumables Market by Product
11.5.2.7.2 Rest of Africa Welding Consumables Market by Flux-cored Wires
11.5.2.7.3 Rest of Africa Welding Consumables Market by Application
11.6 Latin America
11.6.1 Latin America Welding Consumables Market by Country
11.6.2 Latin America Welding Consumables Market by Product
11.6.3 Latin America Welding Consumables Market by Flux-cored Wires
11.6.4 Latin America Welding Consumables Market by Application
11.6.5 Brazil
11.6.5.1 Brazil Welding Consumables Market by Product
11.6.5.2 Brazil Welding Consumables Market by Flux-cored Wires
11.6.5.3 Brazil Welding Consumables Market by Application
11.6.6 Argentina
11.6.6.1 Argentina Welding Consumables Market by Product
11.6.6.2 Argentina Welding Consumables Market by Flux-cored Wires
11.6.6.3 Argentina Welding Consumables Market by Application
11.6.7 Colombia
11.6.7.1 Colombia America Welding Consumables Market by Product
11.6.7.2 Colombia America Welding Consumables Market by Flux-cored Wires
11.6.7.3 Colombia America Welding Consumables Market by Application
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Welding Consumables Market by Product
11.6.8.2 Rest of Latin America Welding Consumables Market by Flux-cored Wires
11.6.8.3 Rest of Latin America Welding Consumables Market by Application
12. Company profile
12.1 Lincoln Electric
12.1.1 Company Overview
12.1.2 Financials
12.1.3 Product Type/Services/Offerings
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 KOBE STEEL, LTD
12.2.1 Company Overview
12.2.2 Financials
12.2.3 Product Type/Services/Offerings
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 ESAB
12.3.1 Company Overview
12.3.2 Financials
12.3.3 Product Type/Services/Offerings
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 CS HOLDINGS CO., LTD
12.4.1 Company Overview
12.4.2 Financials
12.4.3 Product Type/Services/Offerings
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Hyundai Welding Co., Ltd
12.5.1 Company Overview
12.5.2 Financials
12.5.3 Product Type/Services/Offerings
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Panasonic Corporation
12.6.1 Company Overview
12.6.2 Financials
12.6.3 Product Type/Services/Offerings
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Fronius International GmbH
12.7.2 Financials
12.7.3 Product Type/Services/Offerings
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 RME MIDDLE EAST
12.7.1 Company Overview
12.8.1 Company Overview
12.8.2 Financials
12.8.3 Product Type/Services/Offerings
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Voestalpine BOHLER Edelstahl GmbH
12.9.1 Company Overview
12.9.2 Financials
12.9.3 Product Type/Services/Offerings
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Copilot
12.10.1 Company Overview
12.10.2 Financials
12.10.3 Product Type/Services/Offerings
12.10.4 SWOT Analysis
12.10.5 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Application News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. Conclusion
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